Peel Hunt Reaffirms “Hold” Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “hold” rating restated by analysts at Peel Hunt in a research note issued to investors on Thursday, Digital Look reports. They presently have a GBX 92 price objective on the stock. Peel Hunt’s price objective would suggest a potential downside of 1.97% from the company’s previous close.

Separately, JPMorgan Chase & Co. increased their price target on shares of ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, ITM Power presently has an average rating of “Hold” and a consensus price target of GBX 4,068.40.

ITM Power Stock Performance

Shares of LON:ITM traded up GBX 1.80 during midday trading on Thursday, hitting GBX 93.85. The stock had a trading volume of 3,075,486 shares, compared to its average volume of 5,940,060. The company has a market capitalization of £647.75 million, a PE ratio of -18.77 and a beta of 2.85. The stock has a 50 day moving average price of GBX 103.45 and a two-hundred day moving average price of GBX 116.87. The company has a current ratio of 2.62, a quick ratio of 7.56 and a debt-to-equity ratio of 6.99. ITM Power has a 1 year low of GBX 57.90 and a 1 year high of GBX 219.80.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.